How buying into Tesla could save Saudi Arabia

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Elon Musk says talks had been held with the Saudi Arabia's sovereign wealth fund about his dream of taking the company private.

Elon Musk’s desire to take Tesla into private ownership could perversely inject some much needed momentum back into Saudi Arabia’s stalled plan to make an initial public offering in the world’s largest oil company.

The brains behind the maker of £80,000 electric cars said this week that talks had been held with the kingdom’s sovereign wealth fund about his dream of taking the company private.

Musk claims Riyadh’s Public Investment Fund has more than enough cash at its disposal to support his ambitions for the company it already has a minority interest in. A closer scrutiny of its assets suggests otherwise.

Most of its estimated $250bn (£196bn) in holdings are tied up in Saudi companies and real...